Donald Trump’s recent criticism of the CHIPS and Science Act has caused significant concern among chip company executives. The Act, signed into law in 2022, allocated $52.7 billion in subsidies to attract advanced chipmakers to the US. Over $36 billion in federal subsidies have already been awarded to companies like Intel, Micron, Samsung, and TSMC. Trump’s comments, labeling the Act as a “horrible, horrible thing,” have led executives to consult lawyers about the potential clawback of funding or termination of contracts. Despite his criticism, Trump did not confirm plans to break any contracts. The Semiconductor Industry Association (SIA) has attributed Trump’s opposition to personal animosity towards President Biden, whose legacy was tied to the legislation. Some Republicans have expressed confusion over Trump’s stance, with Senator Todd Young suggesting that Trump might want to update rather than eliminate the Act.
The Hill
@thehill
·
Sep 7, 2022 Commerce
@SecRaimondo
on CHIPS Act: “This is not a blank check for companies. This is not for them to pad their bottom line. There are clear guardrails on this money and the Department of Commerce intends to be vigilant and aggressive in protecting tax payers.”
Alec Stapp
@AlecStapp
·
Dec 26, 2023 “More than a year after Biden signed the CHIPS Act into law, promising $100 billion in support to new semiconductor plants in the US, his government has made one grant of only $35 million.”
Problem: chip fabs need workers & permits.
Solution: immigration & permitting reform.
Rep. Richard Neal
@RepRichardNeal
·
Mar 4 The CHIPS and Science Act, which received biparistan support, invested $53 billion dollars to reinvigorate our chip supply chain.
In just 2 years, dozens of projects across the U.S. received funding, including the construction of new semiconductor manufacturing facilities.
@amuse
@amuse
·
Dec 11, 2024 TREASON? Commerce
@SecRaimondo
‘s eleventh-hour dash to exhaust the CHIPS Act funds is nothing short of a masterclass in bureaucratic brinkmanship. With Trump taking office next month, Raimondo is determined to deploy the remaining $20 billion earmarked for semiconductor
AG
@AGHamilton29
·
Mar 9, 2024 Really astonishing information on how The CHIPS Act is failing to deliver the promised domestic semiconductor production growth because the DEI requirements in the bill make it too difficult for companies to make it work.
https://thehill.com/opinion/4517470-dei-killed-the-chips-act/…
Snowfish I Mindset Money Matters Newsletter
@SnowfishTrading
·
Mar 25, 2024 $INTC Intel normally a slow and steady mover announced it secured up to $8.5 billion in direct funding under the CHIPS and Science Act
If money shifts back into the hot semi sector it sets up for a good risk to reward entry
See our free newsletter for trading plan
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